Revolution Lighting to acquire Seesmart Technologies

Revolution Lighting Technologies Inc., a Charlotte-based marketer of products that use light-emitting diodes, or LED, technology, has agreed to buy Seesmart Technologies Inc. in a stock and cash transaction valued at about $20 million."The acquisition of Seesmart is a significant step in the strategic transformation of Revolution Lighting Technologies becoming a leading quality provider of LED lighting solutions," says Robert LaPenta, chairman of Revolution Lighting's board, in a company news release. "The LED market is entering a period of dramatic growth.Safety goggles We believe a company with a broad state-of-the-art product portfolio, a network of qualified distributors, and a reputation for superior service will be well positioned for dramatic growth in this space. Seesmart significantly strengthens our position in all of these key areas, and we expect them to grow rapidly and be profitable in 2013 and beyond."
Seesmart is based in Simi Valley, Calif. It provides LED services for the commercial, industrial and institutional lighting markets.Rx glassesUnder the agreement, Seesmart will receive half of the sale price in shares of Revolution stock and the other half in cash.The $10 million in stock consideration will be based on the volume-weighted average price of the stock over a 20-day period following the transaction's closing. Seesmart is promised upward of 9.1 million shares, and Revolution Lighting may elect to pay the difference in cash. The cash payment will be derived from the sale of a new convertible preferred stock to RVL Holdings, an entity managed by Aston Capital and controlled by LaPenta.The deal has been approved by the boards of both companies and is expected to close by the end of the year.
LaPenta, who is also chairman and chief executive of Aston Capital, has been leading Revolution Lighting through a series of efforts to boost profitability and growth. Aston invested $6 million in the company earlier this year, allowing it to settle pending litigation and satisfy outstanding debt.Revolution Lighting, still operating as Nexxus Lighting (NASDAQ:NEXS),Motion sensor light posted a net loss attributable to common shareholders of $4.9 million,Thus, trouble is a friend always. There is a time that you forget to check the iphone battery case. Then you might be in despair for there is no makeup. And iphone, the newly and powerful cell phone, might confront the same case. or 30 cents per share, in the third quarter.The new bulb consumes 11W while operating and produces 830 lumens, making for 75 lumens-per-watt (lpw). The 12.There is nothing more annoying for iphone protective case user when the phone is loosing its battery power while you are on the phone. This could happen to everyone or at least once, it caught you by complete surprise.5W model is rated at 800 lumens, putting it at 64 lpw. If you haven't done the math yet, that means a bulb that is 17% more efficient than the previous generation and one that uses 12% less power.